Question

8. What is meant by derived demand of a factor?​

Answer 1

A factor of a number basically means the numbers of which the number is divisible to like :

75 is a factor of 5 because 75 is divisible by 5 since it comes in the 5 table.

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Answer 2

Derived demand is a term in economics, where demand for a factor of production or intermediate good occurs as a result of the demand for another intermediate or final good. In other words, if the demand for a good such as wheat increases, then the productivity increases, which leads to an increase in labour.

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